IPO News | 'China-based Medical Device Manufacturer' Tianxing Medical launches its offering, with plans to list on May 5th. The minimum subscription amount for one lot is HKD 4,974.67.

Futu News reported on April 24th,$STAR SPORTS MED (01609.HK)$According to an announcement, the company will conduct its IPO from April 24th to April 29th, planning to globally offer approximately 8.42 million shares, and expects to be listed on May 5th.

Company Overview

The company is a China-based medical device firm specializing in clinical solutions for sports medicine. According to data from灼识谘询, the company ranked as the fourth-largest provider of sports medicine implants and devices in China by sales revenue in 2024, with a market share of approximately 6.5% of the Chinese sports medicine implants and devices market, making it the largest domestic provider of such products.

Leveraging its self-developed implants, powered devices, related consumables, and surgical tools, the company offers treatment solutions for soft tissue injuries such as rotator cuff, ligament, and meniscus damage, as well as comprehensive solutions for sports rehabilitation and prevention.

Financial Summary

Revenue increased from RMB 238.5 million in 2023 to RMB 327.1 million in 2024, and further grew to RMB 402.8 million in 2025. In 2023, 2024, and 2025, the company’s gross profit amounted to RMB 177.3 million, RMB 227.6 million, and RMB 298.6 million respectively, with corresponding gross margins of 74.3%, 69.6%, and 74.1%.

Use of Proceeds

In terms of use of proceeds, Tianxing Medical expects to receive net proceeds of approximately HKD 758 million from the global offering (assuming no exercise of the over-allotment option, based on an offer price of HKD 98.5). According to the prospectus, Tianxing Medical intends to allocate the proceeds from the global offering for the following purposes in the specified amounts:

Approximately 30.0% will be used to expand our production capacity and enhance production efficiency to meet rapidly growing market demand; around 35.0% will support research and development efforts aligned with our patient-oriented product strategy; about 25.0% will go towards commercialization, sales, and marketing activities to solidify our leading position in China while establishing a global market presence and brand image; and roughly 10.0% will be allocated for working capital and general corporate purposes.

Further reading:Tianxing Medical Prospectus

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